Case study: Contract management
The challenges of the past few months and the rise in working from home have highlighted the importance of effective contract management. If an office is closed for an undetermined period, paper contracts stored in physical filing cabinets are of no use. However, by having a reliable, consistent, and auditable digital contract management system in place, businesses can reduce risk levels and improve governance both internally and with their supply chain.
Ebit’s approach to contract management
When starting from scratch, a full-scale contract management project can sometimes seem daunting. However, Ebit’s Contract Management system is tailor-made to support the procurement structure of a business by offering an effective, cost-saving solution all stored in one easy-to-use database.
Ebit Contract Management’s dedicated account managers focus specifically on ensuring that all contracts are loaded correctly from day one. We can identify saving opportunities immediately, generate bespoke reports, and alert clients to contract expiry dates ahead of costly auto renewals, allowing for plenty of time to act.
As a business, we are responsible for large scale, sensitive data within various sectors, so client security and confidentiality is at the forefront of everything we do. This deep level of expertise enables us to provide great functionality, intuitive user experience and meaningful reporting.
Users of Ebit Contract Management can also benefit from proactive benchmarking of supplier contracts. This identifies whether they are competitive or if the client could be saving money by switching suppliers, going out to tender, or renegotiating with their incumbent supplier.
Here’s an example of how we can help:
- A large food manufacturing client wanted to implement a system to improve contract compliance and governance across their business.
- We onboarded all of the client’s current contracts and identified suppliers that didn’t have a contract in place.
- We provided the client with monthly compliance reports, highlighting key areas of risk to overall compliance. These risks included unsigned contracts, new contracts, expiring contracts, expired contracts, and suppliers with no contract in place.
- Our contract management system enabled the client to increase their overall contract compliance from 77% to 96%.
Get in touch to find out how Ebit Contract Management can help your business to manage contracts effectively.